Europe

November will be warm in Europe

Weather forecasters said temperatures are expected to be above normal in early November, followed by mild weather for the rest of the month. Autumn is unseasonably warm in Europe this year.

Gas prices in Europe may drop below $1,000 per thousand cubic meters on the back of 95% full gas storage and warm weather. However, forecasters added that a warm November does not preclude a cold 2022-2023 winter.

At the same time, Gazprom continues to argue that full gas storage does not mean a calm winter. According to the company, the pumped volume may not be enough for Europe.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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